Kingfisher Airlines Q1 net loss at Rs.263.54 crore

August 10th, 2011 - 11:01 pm ICT by IANS  

Mumbai, Aug 10 (IANS) Vijay Mallya-led Kingfisher Airlines Wednesday reported an increase in its net loss for the first quarter of the current fiscal at Rs.263.54 crore as compared to Rs.187.34 crore in the like period of 2010-11.

“Net loss as a percentage of total revenue stood at 14 percent in Q1 FY12. The benefits of debt restructuring and improved operating performance were offset by the rise in fuel price,” the company said in a regulatory filing to the Bombay Stock Exchange (BSE).

The filing further said that: “Kingfisher Airlines’ total revenue for Q1 FY12 was Rs. 1,911 crore which is a 15 percent improvement over the same quarter last year,” the company said.

According to the filing, increase in capacity, higher load factors, and improvement in yield contributed to the revenue growth.

The company’s fuel cost in the quarter under review also rose by 44.32 percent at Rs.845.13 crore as against Rs.585.56 crore in the corresponding quarter of the last fiscal.

The other income of the company, too grew by 84.53 percent at Rs.29.36 crore from Rs.15.91 crore in the first quarter of 2010-11.

The company’s revenues in the quarter under review were led by the domestic sector services, which grew by 10.23 percent at Rs.1,459.30 crore as against Rs.1,323.86 crore in the like quarter of last fiscal.

The international segment revenues grew by 33.35 percent at Rs.422.33 crore as compared to Rs.316.70 crore in the first quarter of last fiscal.

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